Current systems for implementing restricted use currency typically involve the issuance of a gift or promotional card by a merchant for a specific amount of currency that may only be used at the merchant. If a transaction is conducted with the merchant that exceeds the amount on the gift card, then the user must present a second form of payment, such as a credit card. This is inconvenient, as it essentially comprises conducting two separate transactions. Moreover, consumer behavior often results in gift cards that have small balances remaining that may never be used because, inter alia, it becomes more of an inconvenience to continue to carry around and/or keep track of the payment device than the remaining balance is worth. Moreover, individuals may be concerned about presenting a gift card or other payment device that comprises the restricted use currency that may be used only at the merchant because the amount remaining may be insufficient to pay the transaction amount and the transaction may be thereby be declined.
Moreover, current systems for implementing restricted use currency often limit such payment devices or accounts to a single merchant. That is, if a user desires to have restricted use currency associated with multiple and different merchants, they are required to have a restricted use currency account or payment device with each merchant. This may require carrying multiple payment devices, which again is inconvenient.
Embodiments of the invention address these and other problems, individually and collectively.